Choice of Fund

 

A quick overview of Choice

With the introduction of 'Choice' in July 2005, many employees are now able to choose which fund their employer's superannuation guarantee contributions are paid into.

 

What are superannuation guarantee (SG) contributions?

The Superannuation Guarantee requires employers to contribute a percentage of salary for eligible employees who have earned at least $450 gross in the month.  This is currently 9% of your ordinary time earnings.

 

Making a choice

If you wish to choose your own superannuation fund:

You must give your employer details of your chosen fund. This can be done by:

  • Completing Part B of the Standard Choice Form and providing this and all the necessary attachments to your employer; or
  • Providing all necessary information in writing to your employer.

 

What do I do to choose NCSF?

Simply follow these 3 easy steps

  1. Download the Standard Choice form and compliance letter
  2. Complete and sign the form 
  3. Hand the completed form and the compliance letter to your employer

 

What happens if I don't choose a superannuation fund?

Your employer contributions will be paid into the fund your employer nominates as the ‘default employer fund’. This will be the fund nominated by your employer on Part A of the Standard Choice Form, which will be provided to you by your employer.